Wells Fargo & Company Has Lowered Expectations for Regions Financial (NYSE:RF) Stock Price

Regions Financial (NYSE:RF) had its price objective reduced by research analysts at Wells Fargo & Company from $28.00 to $26.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the bank’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 21.41% from the company’s previous close.

RF has been the topic of a number of other reports. Compass Point upped their price target on shares of Regions Financial from $25.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Barclays boosted their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Truist Financial dropped their price objective on shares of Regions Financial from $26.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, March 21st. Morgan Stanley reissued an “equal weight” rating and issued a $32.00 price objective (up previously from $28.00) on shares of Regions Financial in a research note on Monday, December 9th. Finally, Piper Sandler increased their target price on Regions Financial from $25.00 to $29.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $27.17.

Regions Financial Price Performance

NYSE:RF opened at $21.42 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $19.39 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.93 and a beta of 1.19. Regions Financial has a 12 month low of $17.72 and a 12 month high of $27.96. The business’s 50-day moving average is $23.25 and its 200 day moving average is $23.93.

Regions Financial (NYSE:RF) last released its quarterly earnings data on Friday, January 17th. The bank reported $0.56 EPS for the quarter, beating the consensus estimate of $0.55 by $0.01. Regions Financial had a net margin of 20.20% and a return on equity of 12.83%. The business had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business earned $0.39 earnings per share. Regions Financial’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Regions Financial will post 2.26 earnings per share for the current fiscal year.

Insider Activity at Regions Financial

In other news, Director Joia M. Johnson purchased 2,300 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $21.18 per share, with a total value of $48,714.00. Following the completion of the acquisition, the director now owns 17,486 shares of the company’s stock, valued at approximately $370,353.48. This represents a 15.15 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired 3,993 shares of company stock worth $89,682 over the last three months. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Regions Financial

Hedge funds have recently modified their holdings of the company. Norges Bank acquired a new stake in Regions Financial in the fourth quarter valued at approximately $279,103,000. State Street Corp lifted its position in shares of Regions Financial by 16.3% during the 3rd quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock valued at $1,306,813,000 after buying an additional 7,791,399 shares in the last quarter. Invesco Ltd. grew its stake in Regions Financial by 14.5% in the 4th quarter. Invesco Ltd. now owns 15,468,674 shares of the bank’s stock valued at $363,823,000 after acquiring an additional 1,963,954 shares during the period. Deutsche Bank AG increased its holdings in Regions Financial by 52.7% in the 4th quarter. Deutsche Bank AG now owns 5,522,612 shares of the bank’s stock worth $129,892,000 after acquiring an additional 1,907,121 shares in the last quarter. Finally, National Bank of Canada FI raised its position in Regions Financial by 575.8% during the third quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock worth $39,784,000 after acquiring an additional 1,452,956 shares during the period. 79.39% of the stock is owned by hedge funds and other institutional investors.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.